Houston-based EOG Resources Inc., one of the Eagle Ford Shale’s key producers, says improved technical expertise last year boosted its potential recoverable crude-oil reserves in the South Texas formation by 45 percent to 3.2 billion barrels of oil equivalent.

During an announcement today, EOG said its shift from extraction of natural gas to higher profit margin oil helped increase its crude and condensate output 50 percent in the fourth quarter.

“To put our Eagle Ford position in simple terms, our current reserve potential is almost four times what we estimated four years ago when EOG discovered the play,” Chief Executive Officer Bill Thomas said in a written statement.

EOG forecast 2014 crude oil production growth of 27 percent, fueled in part by the Eagle Ford output in Texas.

The company also said it expects to increase its spending this year to between $8.1 billion and $8.3 billion.

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